2019 began with a bang for traders as there is an abundance of market events starting some form of activity on the global market. Just this year, we can look forward to the G20 summit taking place in June in Osaka, which is represented by the leaders of the countries that make up around 80% of the world GDP. For traders, such an event is a significant marker in terms of forex and should receive a prominent part of their trading strategy. While the crypto and techno buzz played an important role in the trending charts for 2018, this year seems to be one of the worldwide events, freebies, and smartphone trades.
The change of economic policies and others
Although not necessarily a result of the economic impact of Brexit and trade wars, many countries are changing their economic policies at a massive level. This will definitely impact those trading in foreign currencies. Of course, this situation requires a change in strategy that is unique and scalable. Following the same old strategy in every new deal will only lead to ruin. Consequently, you will need to keep an eye on others’ economic policies so that you can better your own strategy. Additionally, in 2019 we can also witness the rise of cryptocurrencies and them taking a more dominant position in the market. Even today, there are platforms that offer cryptocurrency trading systems. However, they’re seen as something parallel. The only thing that is certain, when we consider the default status cryptocurrencies are acquiring, is that they could become more standard soon.
The best of the forex behemoths
With the Federal Reserve looking to hike up the interest rates, placing traders from across the globe on a data watch, there is an enormous opportunity for the biggest forex traders to play on the cost-cutting strategy. And they do. Brokers such as Ever Forex are battling it out to provide traders with the best deals. Friend referral fees, signup bonuses, and trading discounts are part of the appeal, and for the traders, it’s simply a matter of choosing the one that suits their pockets best. While extra cash for trading is always a welcome addition to a forex portfolio, traders also look at service offerings when making a decision on which trading platforms to use. Some traders are expanding their trading offerings to receive a larger piece of the pie, such as overnight trading. As the forex market remains sleepless, traders may find it hard to close a trade after hours.
The rise of the tech
Frankly, this isn’t big news. Forex trading was always connected to the tech aspect, but it was acting as a middle-man. Today, however, there are several factors you should be aware of. Most importantly, there is a rise of tech-oriented forex trading options. Most of these technologies make use of algorithms. They can guide the whole forex trading process, from basic predictions to data-driven decisions. Of course, on top of this, we have to count in the aspect of quickness as well as accuracy. Consequently, it is possible for even the ultimate beginners to get into forex trading and find profit. Numerous websites offer comprehensive analysis options in the world of foreign exchange trading. You can also keep up with the whole economic ordeal using such platforms. It is surely one of the deciding factors in 2019.
The rise of the full-service mobile platform
According to ConnectFX, smartphone trading has been around for a quite some time and for traders, the flexibility of trading on the go has been quite the gamechanger. But these platforms did not extend the full package as the online versions did, which inevitably led traders back online to complete particular functions. Advanced smartphone platforms are steadily rising, which enables traders to forego their computer-based platforms altogether. Defined as full-potential technology, such apps are constantly evolving to adapt to the needs of the users, while still meeting all regulatory requirements. From a security point, this is perhaps where developers struggle the most as the applications need to provide the same level of protection as their desktop versions. Other considerations that a smartphone forex trading platform developer needs to have in mind is how easily available different forex tools are, and that flitting through one section of the application to the next shouldn’t impact trading time.
When you’re into forex trading, these tips should be on your mind before you invest. There are no ultimate decisions or pointers, but rather several areas you should concentrate on and try to get an insight from.